Forbes July 27, 2022
Humana reported nearly $700 million in profits in the second quarter thanks to growth in its Medicare health plans and lower than expected medical and administrative costs.
The health insurer Wednesday said net income rose 18% to $696 million compared to $588 million in the second quarter of 2021. Revenues, meanwhile, were up 15% to $23.6 billion compared to $20.6 billion in the year-ago period.
Humana attributed the second quarter performance to “better-than-anticipated medical cost trends,” as the health insurer and the industry in general continue to weather the Covid-19 pandemic. The solid performance in its health insurance and healthcare services businesses and lower administrative costs figured in the company’s decision to raise its 2022 annual adjusted earnings-per share guidance...
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